Daily Pivots: (S1) 0.6551; (P) 0.6585; (R1) 0.6613; More…
Intraday bias in AUD/USD remains neutral for the moment. Risk will stay on the downside as long as 0.6689 resistance holds. Break of 0.6524 will resume the fall from 0.6689 short term top to 55 D EMA (now at 0.6496). Nevertheless, firm break of 0.6689 will resume the rise from 0.6269 instead.
In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. Price actions from 0.6169 (2022 low) could be just a medium term corrective pattern, with fall from 0.7156 as the second leg. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.
. Nevertheless, firm break of 0.6689 will resume the rise from 0.6269 instead.){kind=link}